You know it’s the festive season when retailers aggressively contend for sales with huge promotions and discounts on some of the most sought-after products. Just as the previous year, Flipkart held the Big Billion Days Sale ahead of the Diwali festive season, but with a twist - the sale was only on the mobile app. It was a strategic move, which pushed Flipkart’s app ranking up to the No.1 spot, according to mobile analytics firm App Annie.
The Big Billion Days sale also crossed paths with Amazon’s Great Indian Festive sale, which further intensified the e-tail war. Ugam drilled down into the pricing of key categories – laptops, home appliances and books for a closer look at Flipkart’s pricing during the festive sale (between October 13 and 17).
Pricing has intensified across major Indian ecommerce players in the recent years. The key to winning on price, though, is not in simply lowering prices, but in knowing when to increase or lower prices based on what customers are willing to pay.
Competitive Price Monitoring and Pricing Intelligence tools can unlock opportunities to grow margins by using consumer demand signals and competitor data. Retailers can use them to their benefit to understand what customers want, what they are willing to pay, and improve user experience to create long-term happy customers.